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How to fix the economy (lemmy.world)

submitted 2 days ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 2 days ago (1 children)

India made a run at wealth hoarding by issuing a new currency. They declared it was worth something like 5 old currency and you had to personally turn in old money to get new money. You couldn't just digital it.

I have no clue how well that did or didn't work but they haven't imploded yet. So there's a lot more play in this money thing than the finance industry would like us to believe.

[–] [email protected] 1 points 2 days ago

They declared it was worth something like 5 old currency and you had to personally turn in old money to get new money

Then it's not just backed by their declaration